Ms. Joanna Azzopardi, Senior Executive at MSV Life explained “Whilst everyone’s circumstances areunique we all have a need for life insurance at different stages in our life. From covering our first loan, to protecting our family and ultimately planningfor succession (inheritance) tax, we all need to consider the financial impact of our death on those we leave behind.”
MSV will be launching aspecific campaign entitled “What if you died yesterday?”, focusing on thefinancial implications on our family once we are gone.
“Life insurance gives youpeace of mind that your family can continue to live the life you have createdfor them and ensures your future plans are fulfilled, even if you are no longer around to share them.” continued Ms Azzopardi. “We all have dreams forourselves and our family, from seeing our children grow and study abroad, totheir wedding day, a first deposit on their home or our own retirement. Whilst we can save towards these goals they will become derailed if we don’t protect them. This is where life insurance plays such an important role. By combining savings and life insurance we know the plans we make today will become reality whatever happens in the future”.
Statistics show the majority of people either have noinsurance or are under-insured since most life policies are simply used tocover loans. David G. Curmi, Chief Executive Officer of MSV Life said “In Malta less than 35% of the working population have any form of life protection and since most of the policies will be used to repay bank loans, many Maltese families will find themselves woefully under-insured and facing unnecessary financial risks”.
Life insurance should be the foundation of every individual’s financial planning since it helps to protect people at any stage in their life. It is the only financial instrument that provides an immediate tax-free benefit on death.
Mr. Curmi added that “as the leading provider of life insurance in Malta, we want to be pro-active in raising the awareness among the Maltese of the need for life insurance. Protection Plans should be everyone’s choice for safeguarding the future of their family and heirs. MSV has a wide range of life insurance products designed to suit theneeds of both individuals and businesses to provide the best possible protection for its clients”.
MSV Life p.l.c. is authorised by the Malta Financial Services Authority to carry on long term business under the Insurance BusinessAct 1998. COM 040912